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Wiber, inc. manulactures model aiplane kits and projects prodaction at 400,220,350, and 550 kits for the next four quarters. [1] Click the icon to view the manufacturing information.) Prepare Wilber's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed for preduction, budgeted ovorhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the pearest whole number. Begin by preparing Wiber's direct materials budget. More info Direct materials are five ounces of plastic per kit and the plastic costs $4 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 940 ounces, and the company desires to end each quarter with 30% of the materials needed for the next quarter's production. Wilber desires a balance of 260 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.50 hours of direct labor at an average cost of $55 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.75 per kit, and fixed overhead is $170 per quarter